ALLETE (NYSE:ALE) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.40-3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.67. ALLETE also updated its FY20 guidance to $3.40 to $3.70 EPS.

Shares of NYSE:ALE traded down $0.05 during midday trading on Friday, reaching $81.19. The company had a trading volume of 276,700 shares, compared to its average volume of 224,239. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $82.19 and its 200 day moving average price is $83.69. The stock has a market cap of $4.24 billion, a PE ratio of 21.31 and a beta of 0.14. ALLETE has a 1-year low of $78.25 and a 1-year high of $88.60.

ALLETE (NYSE:ALE) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $304.60 million for the quarter, compared to the consensus estimate of $356.60 million. ALLETE had a return on equity of 8.54% and a net margin of 14.23%. ALLETE’s quarterly revenue was down 32.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, research analysts expect that ALLETE will post 3.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be given a $0.6175 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from ALLETE’s previous quarterly dividend of $0.59. ALLETE’s payout ratio is currently 65.10%.

A number of analysts recently issued reports on ALE shares. ValuEngine downgraded ALLETE from a buy rating to a hold rating in a research report on Friday, January 3rd. Zacks Investment Research downgraded ALLETE from a hold rating to a sell rating in a research report on Friday, January 24th. Finally, Guggenheim raised ALLETE from a neutral rating to a buy rating in a research report on Tuesday, January 7th.

In related news, Director Madeleine W. Ludlow sold 1,200 shares of ALLETE stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $79.45, for a total transaction of $95,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.43% of the company’s stock.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 16 non-affiliated municipal customers.

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